Pakistan, Sri Lanka: bilateral trade's volume increased to $250 million: CG

The volume of bilateral trade between Pakistan and Sri Lanka has increased to $250 million in favour of Pakistan. These views were expressed by the Consul General of Sri Lanka in Karachi D. W. Jinadasa while talking to Business Recorder at a reception arranged by him on the occasion of the 63rd National Day of Sri Lanka at a local hotel here on Friday.
He said that significant improvement in bilateral trade between the two countries was seen since the implementation of free trade agreement (FTA) in June 2005. The existing trade volume was in favour of Pakistan, as the total imports from Sri Lanka were over $60 million while total exports from Pakistan to Sri Lanka had increased to $196 million.
The Sri Lankan Consul General was of the view that the bilateral trade between the two countries could be doubled easily in next few years. In this regard, he suggested exchange of trade delegations between the two friendly countries. He said that Pakistan and Sri Lanaka had always maintained very close and cordial relations in diverse fields. "We need to build upon this firm foundation focusing areas which need our attention especially trade, investment, tourism and related areas," he said.
He said that the current trading pattern reflected certain limitations of the composition of goods being traded. "Therefore, there is a need to study the market closely to explore opportunities and further expand and promote trade and commercial activities," he added. A large number of dignitaries from all walks of life including provincial ministers Haji Muzafar Shajra and Raza Haroon, members of business community and diplomats attended the reception.